Monday, April 18, 2011

BRIC Nations at the Forefront of Global Economy

Economic leaders of Brazil, Russia, India and China met last week in Sanya, the southernmost city in China's Hainan Province to call for changes that would better reflect their voices in the future global economic structure.

(Pictured: Owen George in Sao Paulo, Brazil with leaders of Brazil's Green Building Council.

Touted as the key drivers of the global economic boom, the BRIC nations continue to show economic growth far beyond that seen in the USA and Europe. They blame the current economic order, dominated by the USA and the EU, as a flawed system - and the cause of the meltdown that put the breaks on the boom they have been experiencing for the last several years. The BRIC leaders are seeking unity, and developing a strategy for an increasingly important role in the world order. The one day meeting in Sanya will not bring immediate change to the status quo of post World War II economic leadership, but it does serve as a powerful sign of things to come. BRIC nations make up some of the fasting growing markets for USA and EU goods and services - they will continue to fight for more control of setting the rules of the game.